Leeds business park welcomes “high profile” occupier to site in significant deal

A Leeds business park has welcomed a “high profile” occupier to its site in a significant deal.

The Leeds office of Knight Frank has completed the letting of a 25,000 sq ft warehouse to Svella Plc at Logic Leeds business park.

Svella Plc will use the warehouse as a base for its telecoms and digital infrastructure business, Svella Connect.

Knight Frank acted on behalf of Leeds-based Phoenix Investment Management, who developed the Orion@Logic warehouse speculatively. Svella were represented by Avison Young.

Gavin Davies, managing director of Svella Connect, said: “Our plan for strategic growth has driven the need for relocation to a larger premises with modern facilities, a vibrant working environment for our people and superior connectivity. Logic provides the platform we need to deliver on our growth ambitions and will help facilitate service excellence for our telecoms and digital infrastructure customers across Yorkshire.”

Tom Goode, associate of Leeds Knight Frank, commented: “This significant deal underlines, once again, the continued demand for good quality warehouse space in West Yorkshire and the outstanding success of Logic Leeds.

“The 100-acre Logic Leeds has already attracted high-quality and high-profile occupiers such as Amazon, John Lewis and Premier Farnell and this superb new building is a notable addition to the Logic Leeds success story.

“Orion has been built to a very high specification, with ample car parking, a large service yard, electric security gates and 1,000 sq ft of fully fitted office space, and these qualities played a key role in attracting a prestigious new tenant.”

Matt Brown, director at Phoenix Investment Management, commented: “We are delighted to have agreed this letting with Svella plc on a 10-year lease. The deal highlights the continued demand and strength in depth of the Leeds urban logistics market, underpinning the reasons we chose to invest in Logic Leeds.”

Rob Oliver, principal at Avison Young, commented: “Commercial trends accelerated by the Covid pandemic have resulted in dramatic shrinkage of supply, and strong growth in values.

“Great news for landlords and developers, but can be very challenging for occupiers and their agents wanting to consider a range of premises, and manage their property costs.”

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